Yay Canada. This is why I would never move to America. By the way, random quote that I find hilarious: Joey: Hahah, I'm American Keith: YOU'RE NOT AMERICAN, YOU DON'T EVEN HAVE THE AMERICAN FLAG ON YOU Joey: Oh yeah, I must've left it back home...in America Announcer: Keith has snapped!
You Canadians should build a wall before the Americans start floding across the border and take all your jobs.
We'll let the beavers do that BUT: I think the high income taxes here will scare people away naturally!!!
In that case I think it's best that the US dollar is higher... lol jk Do you think the currency will go back up (US) any time soon? I'm contemplating about converting my US funds now.. or maybe later...
It is more to do with the Canadian dollar strengthening than the US dollar weakening. Canada's economy is doing quite well and the interest rates are firming up too. It is expected that the Canadian dollar will be more valuable than the US dollar by end of 2007. I have a chart here for the USD against the "Loonie"
What are you talking about? The Swedish crown is growing and stronger than ever, the euro, the yen, evereyone are surpassing the dollar. And you say its canada that grows and not the US falling? Its the same cake, evereyone is getting a bigger peace of it, America is getting a smaller one.
http://www.cbc.ca/news/background/dollar_cdn/ And why didn't I see this coming who says economics isn't important.. Also: sachin410, which line represents what in your graph?
Read the post again. I am saying it is more because of Canadian growth...there is a US factor involved too...but that isn't the main reason for rise of Canadian dollar. Against major currencies, USD has just fallen around 1-2% this year. However it has fallen 9% against the Canadian dollar...that's because Canada's economy is doing very well and interest rates are firm...this is bringing lot of inflows in the country. Same is the case of Dollar against the Indian rupee. As India's economy is growing at 9%+..there are lot of inflows into India and thus the INR has risen 8%+ this year against the USD. Read this.
Maybe so, but the US dollar is getting weaker and weaker against a lot of currencies. So the dollar is globally falling. And it has been falling for a very long time.
That's why i wrote "more to do with" and not "because of" Out of the 9% change, 1-2% may be because of US weakening and 7% because of Canada strengthening. Canadian dollar is also rising sharply against Euro, GBP and other currencies. Here is Canadian dollar against GBP for 2007 (Around 10% apprciation in 2007). January 0.434344 GBP February 0.436207 GBP March 0.439609 GBP April 0.443287 GBP May 0.460599 GBP June 0.475381 GBP
My graph is US dollar vs euro, forgot to mention. It looks like on your graph that the Canadian $ was strong then became weak, now strong again. Was it like that ?
I can remember trips to the Canadas ~ 1986, conversion defacto was 0.86:1 so wow, high rolling if it's now 1.05:1 cheap meds ain't cheap no mo!
I remember, just in the past 10 years or so, when the exchange rate was around 0.60:1!! Those were nice days.... I miss them. (I live close to the Canadian border and it was great to shop over there and get every thing for 40% less!)